Servicers to Service Mortgage Loans. For and on behalf of the Certificateholders, the NMC Servicer shall service and administer the NMC Mortgage Loans, the BAFSB Servicer shall service and administer the BAFSB Mortgage Loans and the BANA Servicer shall service and administer the BAFSB Mortgage Loans, all in accordance with the terms of this Agreement, Customary Servicing Procedures, applicable law and the terms of the Mortgage Notes and Mortgages. In connection with such servicing and administration, each Servicer shall have full power and authority, acting alone and/or through Subservicers as provided in Section 3.02, to do or cause to be done any and all things that it may deem necessary or desirable in connection with such servicing and administration including, but not limited to, the power and authority, subject to the terms hereof, (a) to execute and deliver, on behalf of the Certificateholders and the Trustee, customary consents or waivers and other instruments and documents, (b) to consent, with respect to the Mortgage Loans it services, to transfers of any Mortgaged Property and assumptions of the Mortgage Notes and related Mortgages (but only in the manner provided in this Agreement), (c) to collect any Insurance Proceeds and other Liquidation Proceeds relating to the Mortgage Loans it services, and (d) to effectuate foreclosure or other conversion of the ownership of the Mortgaged Property securing any Mortgage Loan it services. Each Servicer shall represent and protect the interests of the Trust in the same manner as it protects its own interests in mortgage loans in its own portfolio in any claim, proceeding or litigation regarding a Mortgage Loan and shall not make or permit any modification, waiver or amendment of any term of any Mortgage Loan, except as provided pursuant to Section 3.21. Without limiting the generality of the foregoing, each Servicer, in its own name or in the name of any Subservicer or the Depositor and the Trustee, is hereby authorized and empowered by the Depositor and the Trustee, when such Servicer or any Subservicer, as the case may be, believes it appropriate in its reasonable judgment, to execute and deliver, on behalf of the Trustee, the Depositor, the Certificateholders or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Mortgage Loans it services, and with respect to the related Mortgaged Properties held for the benefit of the C...
Servicers to Service Mortgage Loans. Section 3.02 Subservicing Agreements between a Servicer and Subservicers................................................. Section 3.03
Servicers to Service Mortgage Loans. (a) For and on behalf of the Certificateholders, each Servicer shall service and administer the Mortgage Loans serviced by it in accordance with the terms of this Agreement and the respective Mortgage Loans, to the extent consistent with such terms, in compliance with all applicable federal, state and local laws, and in the same manner in which it services and administers similar mortgage loans for its own portfolio, giving due consideration to customary and usual standards of practice of mortgage lenders and loan servicers administering similar mortgage loans but without regard to:
(i) any relationship that such Servicer, any Subservicer or any Affiliate of such Servicer or any Subservicer may have with the related Mortgagor;
(ii) the ownership or non-ownership of any Certificate by such Servicer or any Affiliate of such Servicer;
(iii) such Servicer's obligation to make P&I Advances or Servicing Advances; or
(iv) such Servicer's or any Subservicer's right to receive compensation for its services hereunder or with respect to any particular transaction. To the extent consistent with the foregoing, each Servicer shall seek to maximize the timely and complete recovery of principal and interest on the related Mortgage Notes. Subject only to the above-described servicing standards and the terms of this Agreement and of the respective Mortgage Loans, each Servicer shall have full power and authority, acting alone or through Subservicers as provided in Section 3.02, to do or cause to be done any and all things in connection with such servicing and administration which it may deem necessary or desirable. Without limiting the generality of the foregoing, the related Servicer in its own name or in the name of a Subservicer is hereby authorized and empowered by the Trustee when each Servicer believes it appropriate in its best judgment in accordance with Accepted Servicing Practices, to execute and deliver any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the related Mortgage Loans and the Mortgaged Properties and to institute foreclosure proceedings or obtain a deed-in-lieu of foreclosure so as to convert the ownership of such properties, and to hold or cause to be held title to such properties, on behalf of the Trustee and in the name of the Trust. Each Servicer shall service and administer the related Mortgage Loans in accordance with applicable state and fede...
Servicers to Service Mortgage Loans. For and on behalf of the Certificateholders, each Servicer shall service and administer the Mortgage Loans in accordance with the terms of this Agreement and with Accepted Servicing Practices. The obligations of each of Wilshire and Ocwen hereunder to service and administer the Mortgage Loans shall be limited to the Wilshire Serviced Loans and the Ocwen Serviced Loans, respectively; and with respect to the duties and obligations of each Servicer, references herein to "
Servicers to Service Mortgage Loans. Section 3.02 Subservicing; Enforcement of the Obligations of Servicers.....
Servicers to Service Mortgage Loans. 62 SECTION 3.02 Subservicing; Enforcement of the Obligations of Subservicers.............................................64 SECTION 3.03 [Reserved]...............................................65 SECTION 3.04 Trustee to Act as Servicer...............................65
Servicers to Service Mortgage Loans. Subservicing; Enforcement of the Obligations of Subservicers.
Servicers to Service Mortgage Loans. 53 Section 5.02. Sub-Servicing Agreements Between Servicers and Sub-Servicers; Enforcement of Sub-Servicer's Obligations....................................................54 Section 5.03. Successor Sub-Servicers..........................................................54 Section 5.04. Liability of the Servicers.......................................................54 Section 5.05. No Contractual Relationship Between Sub-Servicer and Trustee or Certificateholders...............................................................55 Section 5.06. Termination of Sub-Servicing Agreement...........................................55 Section 5.07. Collection of Mortgage Loan Payments.............................................55 Section 5.08. Establishment of Collection Accounts; Deposit in Collection Account..............55 Section 5.09. Permitted Withdrawals from the Collection Accounts...............................56
Servicers to Service Mortgage Loans. For and on behalf of the Certificateholders, each Servicer shall service and administer the related Mortgage Loans in accordance with the terms of this Agreement and with Accepted Servicing Practices. The obligations of each of Olympus and Ocwen hereunder to service and administer the Mortgage Loans shall be limited to the Olympus Serviced Loans and the Ocwen Serviced Loans respectively; and with respect to the duties and obligations of each Servicer, references herein to "
Servicers to Service Mortgage Loans. Subservicing Agreements between a Servicer and Subservicers Section 3.03 Successor Subservicers
